Meritage Homes Investor Presentation — January 2022

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ANALYST CONFERENCE CALL

JANUARY 27, 2022FORWARD –LOOKING STATEMENTS

2The information included in this presentation and the accompanying comments from management contains forward -looking statements within the meaning of the Private

Securities Litigation Reform Act of 1995. Such statements include expectations about the housing market in general; projected 2021 home closings, home closing

revenue, home closing gross margins, effective tax rate and diluted earnings per share; future community counts; trends in co nstruction costs; and expectations about our

Such statements are based on the current beliefs and expectations of Company management and current market conditions, which aresubject to significant uncertainties

and fluctuations. Actual results may differ from those set forth in the forward -looking statements. The Company makes no commitm ent, and disclaims any duty, except as

required by law, to update or revise any forward -looking statements to reflect future events or changes in these expectations. M eritage's business is subject to a number

of risks and uncertainties. As a result of those risks and uncertainties, the Company's stock and note prices may fluctuate d ramatically.

These risks and uncertainties include, but are not limited to, the following: changes in interest rates and the availability andpricing of residential mortgages; inflation in the

cost of materials used to develop communities and construct homes; trends in construction costs, supply chain and labor const raints and cycle times; our ability to obtain

performance and surety bonds in connection with our development work; the ability of our potential buyers to sell their exist inghomes; legislation related to tariffs; the

adverse effect of slow absorption rates; impairments of our real estate inventory; cancellation rates; competition; home warr anty and construction defect claims; failures in

health and safety performance; fluctuations in quarterly operating results; our level of indebtedness; our ability to obtain financing if our credit ratings are downgraded; our

potential exposure to and impacts from natural disasters or severe weather conditions; the availability and cost of finished lots and undeveloped land; the success of our

strategy to offer and market entry -level and first move -up homes; a change to the feasibility of projects under option or contra ct that could result in the write -down or write -

off of earnest or option deposits; our limited geographic diversification; the replication of our energy -efficient technologies by our competitors; shortages in the availability

and cost of subcontract labor; our exposure to information technology failures and security breaches and the impact thereof; theloss of key personnel; changes in tax